Award-winning advisers take on QROPS

We know you want a video about QNUPS – it’s coming, but for now, be aware of QROPS which are like QNUPS – a niche market for those with larger pension funds where there is a risk of a Lifetime Allowance.

Experienced and qualified

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QNUPS Explained | Compared To QROPS | In Relation To HMRC

Qualifying Non UK Pension Scheme (QNUPS) are actually a natural progression on from QROPS for those who wish to increase their investment options, but they benefit wealthy individuals irrespective of where they live. A QNUPS can invest in practically anything, even a residential property at the moment. Therefore, your pension fund can suddenly change from being a staid old UK based pension into a life-changing asset that can be utilised in multiple ways.

Key benefits

One of the key benefits is the ability to purchase residential or commercial property. This allows your pension fund to purchase a property for you to either live in or let out.

Another benefit is for high earners who are unable to make fully tax relieved pension contributions in the UK due to recent legislative changes. QNUPS, we believe, will become a very attractive option for wealthier clients, as you can save large sums of money for your retirement without the constraints of UK pension legislation.

What is a QNUPS?

QNUPS stands for Qualifying Non UK Pension Scheme, designed for pensions and income being taken outside the UK. However, they can also be utilised by UK residents, as QNUPS are an efficient means of avoiding inheritance tax (IHT) legally.

When it comes to QNUPS, HMRC have specific criteria for overseas pensions for them to be designated as “qualifying”, and thus not attract IHT. For example, schemes must be based overseas and, critically, need to be not in countries that have signed Double Taxation Agreements with the United Kingdom.

Our team of expert pension advisers can explain whether a QNUPS is the right option for you, and explain the situation with QNUPS and HMRC.

What is a ROPS?

Recognised Overseas Pension Schemes are essentially the same as QNUPS, in that they also apply to UK residents as an efficient means of avoiding inheritance tax (IHT) legally. They can also be used in other ways by expats in the UK, who wish to one day leave the UK and take their pension earnings with them to their home country without the tax burdens of the UK schemes. However, there are no tax breaks on putting money into ROPS.

Expert Advice

Our Pensions advisers are the leaders in QNUPS advice, giving you the very best advice and information wherever you are in the world.

The Pensions for Expats team can find you the most suitable, cost-effective and efficient QNUPS solution available. We complete all the work from start to finish, removing the hassle & paper work. With our commitment to our clients, we ensure we give the very best independent advice.

Qualifying criteria for a QNUPS:

Holds UK assets worth at least £650k

Has separate pension plans in place

High net worth individual who requires planning

Requires assistance with IHT for family

Lives in the UK, and UK pension has not been fully funded

Desire to invest in property or company shares

Holds company/occupational pension already in drawdown

Still a UK resident with no intention of moving overseas

Independent Advice

We are completely independent meaning we are not linked to any one QNUPS scheme, therefore we can advise on all QNUPS providers around the world. Our recommendation is based upon our extensive experience with QNUPS, knowledge of all QNUPS providers and QNUPS schemes, on-going research of new QNUPS solutions & identifying our client’s needs. We provide you with complete independent unbiased advice.

AVOID HUGE COMMISSIONS: We will conduct business at minimal cost to you

Widely available

QNUPS do not have to be situated in countries that have signed a DTA (Double Taxation Agreement) with the United Kingdom.

No maximum limit for contributions or age

As QNUPS do not benefit from tax breaks on the “way in”, it means there is no maximum lifetime contributions limit. This can be a huge benefit for IHT planning.

With QNUPS, you can contribute to your scheme as long as you want to at any age. Normal pension schemes only offer tax relief and exemptions for money earned in employment. QNUPS permit contributions from assets you have acquired in any way and again there are no limits, although once the money is invested in the QNUPS fund then it follows UK pension rules for access and taxation.

Non-resident and resident members

Depending on the rules of the individual scheme, QNUPS may be available to UK non-resident members. However, the IHT exempt status may not be lost if you decide to return to the United Kingdom within 5 years (compared to a QROPS).

Growth is free from taxes including CGT

The assets in QNUPS can grow free from CGT, which means that your family can eventually benefit from the capital growth of your QNUPS assets in full when they inherit them. However, please note that any assets moved into the QNUPS will have to be sold and bought leading to tax liability in your resident country at that point on both potential CGT, income and corporation tax depending on the asset.

If you answered YES to these questions, Pensions for Expats could greatly improve your financial and tax situation.

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Pensions for Expats aim to challenge the status quo by optimising returns through transparency and intelligent investing, allowing our satisfied clients’ to enjoy a comfortable journey to their investment goals. Comfortable because we ensure that investment risk is aligned with clients’ aspirations. We know that if you are satisfied with the risk strategy on your investment, then it allows you to spend more time on other things in your life.

We deliver greater returns by giving you the best options of SIPP’s, QROPS or pensions to consider. We ensure you minimise potential death taxes and relaxed, knowing we will not use investment bonds purely because it pays commission as we offer transparent fees on all of the options available to you.

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This enquiry form securely collects your details. Please read our Privacy Policy to see how we protect and manage your submitted data. We will never share your personal details with other organisations. You can delete your data at any time. We are unable to contact you without your agreement.